UVeye Secures $191 Million, Driving Expansion of its AI-Powered Vehicle Inspection Technology
UVeye raises $191M for its AI-powered "MRI for cars," revolutionizing vehicle inspections.
Matilda
UVeye Secures $191 Million, Driving Expansion of its AI-Powered Vehicle Inspection Technology
UVeye, an Israeli startup pioneering AI-powered vehicle inspection systems, has announced a significant $191 million extension to its 2023 Series D funding round. This substantial investment, led by Toyota’s Woven Capital growth fund, signals strong confidence in UVeye's transformative technology and its potential to reshape the automotive industry. The round comprises $41 million in equity financing, with participation from UMC Capital and MyBerg, and a $150 million debt facility structured by Trinity Capital. This substantial capital infusion will fuel UVeye's ambitious expansion plans, enabling the company to deploy nearly 700 of its innovative inspection systems in 2025. The company is experiencing a surge in demand, driven by strategic partnerships with industry giants like Amazon and CarMax, as well as increasing adoption by car dealerships and manufacturers. From Security to Comprehensive Inspection: Adapting to Market Needs UVeye's journey began with a focus on secur…